Hana Bank Strengthens Inclusive Finance for Small Business Owners with Public Delivery App

President Lee Ho-sung of Hana Bank. (Photos: Hana Bank)

Hana Bank announced that it inked a strategic business partnership with Meokkkaebi Co. to support local small business owners and promote the use of Meokkkaebi Public Delivery App at its headquarters in Jung-gu, Seoul, on April 6.

This partnership was established to alleviate economic burdens on small business owners who are struggling with higher prices and rising costs, such as commissions and labor expenses, and to encourage the use of the public delivery app.

Hana Bank plans to further strengthen inclusive finance for local small business owners through cooperation with “Meokkkaebi,” a public-private partnership public delivery app featuring the lowest delivery app commission rates in the country.

Through this partnership, Hana Bank will provide practical financial benefits to Meokkkaebi merchants, such as launching dedicated financial products and linking with policy finance, and promoting the merchants’ stable business foundation.

To this end, Hana Bank contributed an additional 1.5 billion won to the Incheon Regional Credit Guarantee Foundation last March to provide financial support worth 22.5 billion won to small business owners in the Incheon region who use the public delivery app including Meokkkaebi merchants.

In addition, the bank plans to support actual increases in sales for merchants, while providing benefits to Meokkkaebi customers through the launch of co-branded credit cards, the provision of discount coupons and the linkage of delivery services for foreigners residing in Korea.

Hana Bank will strengthen field-oriented marketing such as providing guidance on joining Meokkkaebi and financial counseling to small business owners within their franchise areas.

Seo Yoo-seok, vice president of Hana Bank’s Corporate Group poses for a photo with Kim Joo-hyung, CEO of Meokkkaebi, and Kim Young-ho, head of Hana Bank’s Retail Group after signing a business agreement on April 6.

In particular, the bank plans to promote the use of Meokkkaebi through marketing linked to Hana Financial Group’s unique differentiated financial platforms such as Hana 1Q, Hana Money, and Hana EZ.

“Through this collaboration, Hana Bank will actively implement field-oriented inclusive finance that alleviates financial burdens on local small business owners and supports their sales activities while simultaneously enhancing their self-reliance,” a Hana Bank official said.

“We will also work closely with local governments and small business associations to create a sustainable delivery ecosystem jointly built by the public and private sectors.”

The business partnership is a follow-up measure to a memorandum of understanding (MOU) signed by both companies in February.

It was conducted as part of an effort to further concretize the scope of cooperation and establish a mid-to-long-term cooperation framework covering finance, platforms, and marketing.

Hana Bank plans to continue strengthening its ESG management and inclusive finance initiatives to promote mutual growth with local small business owners.

Providing Financial Support for Taxi Operators with T-money Mobility

Hana Bank announced that it has signed a business agreement to support the growth of taxi business operators and establish a digital-based mobility financial process for taxi operators with T-money Mobility.

The agreement was established to develop customized financial service models for taxi operators by combining Hana Bank’s differentiated financial services and infrastructure with T-money Mobility’s mobility business capabilities and know-how, and to increase financial accessibility for taxi operators by expanding finance into the platform domain.

To this end, Hana Bank will launch specialized financial products to support the stable business operations of taxi operators and to strengthen linkages with T-money Mobility’s dedicated platform for taxi operators, “Taxi Today” to establish a mobility financial process.

In addition, the two parties will cooperate to discover new data-driven businesses, such as developing new business models utilizing Hana Bank’s financial data and T-money Mobility’s operational data. Moreover, they will promote marketing strategies to create various synergies such as financial education support and online and offline promotions.

“We signed this business agreement to expand finance into the platform sector to improve financial accessibility for taxi operators and to provide tangible benefits through the launch of customized financial services,” a Hana Bank official said.